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TIME FOR NOTING CHANGES IN SERVICE TAX EXEMPTIONS - PART I

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 30-3-2015 Last Replied Date:- 30-12-1899 - We are at the end of financial year 2014-15 now with only few days left. It is time to realize and accept that exemption regime of Service Tax shall change with effect from 1st April, 2015 and that it is just not a fool's day but backed by Notification No. 6/2015-ST dated 1.3.2015, amending the mega exemption Notification No. 25/2012-ST dated 20.06.2012. Most of these amendments shall be effective fro .....

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w.e.f. dates as indicated are note worthy- With effect from notified date (a notification shall be issued to notify the date after enactment of Finance Act, 2015 : Production of alcoholic liquour [existing clause (30c) of exemption Notification No. 25/2012-ST] Exemption to intermediate production process for any goods shall be curtailed (clause 30c). The words, 'any goods' have been substituted for 'any goods excluding alcoholic liquor for human consumption'. Thus exemption wi .....

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ed on contract manufacturing/job work for production of potable liquor for a consideration. In this context, the definition of the term process amounting to manufacture or production of goods [section 65 B (40)] has been amended. Consequent to imposition of Service Tax levy on service by way of manufacture of alcoholic liquor for human consumption, an amendment has been made in the entry at S. No. 30 of notification No. 25/12-ST to exclude carrying out of intermediate production process of alcoh .....

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recognised sporting event, where the consideration for admission is not more than ₹ 500 per person. . The aforesaid exemption shall be available only for services in relation to right to admission to specific events. Right to admission would imply taxation of consideration for gaining entry into the event to watch performance or enjoy the event. It could be in the form of ticket, pass, donor card, season ticket, sponsorship privileges etc. Right to admission to the following events shall .....

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e consideration for admission (entry fee) is not more than ₹ 500 per person. Exemption would be available for admission fee upto and including ₹ 500 per person. Sometimes tickets are available for couples (2 persons). In such cases, per person cost will have to be ascertained for this exemption. This exemption shall be made effective from the date the amendment to negative list concerning the exclusion service by way admission to entertainment events from negative list is made effect .....

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